Matrix Money Management Limited SWIFT/BIC code

SWIFT/BIC code of Matrix Money Management Limited

The 8-character code MMOMGB21 and the 11-character code MMOMGB21XXX identify one and the same institution: Matrix Money Management Limited. Every bank on the SWIFT network uses these codes to direct international transfers to the right institution. It comes up mostly when dealing with payments that cross a border.

On this page we explain how the code means, when it matters and which other details a transfer to or from Matrix Money Management Limited requires. The SWIFT code on its own cannot identify a personal account; that is what the IBAN or account number .

Why Matrix Money Management Limited has an 8- and an 11-character code

A SWIFT code is built from a few fixed parts: the first four letters identify the bank, the next two show the country and characters seven and eight mark the location. For Matrix Money Management Limited, the 8-character core is MMOMGB21.

The long version adds a three-character extension that identify a branch or department. If the last three are XXX, the code points to the head office, so MMOMGB21XXX and MMOMGB21 are interchangeable.

Enter the code in one piece, in capitals and without spaces, exactly as shown here. Look out for the letter O and the digit 0 or the letter I and the digit 1; they are easy to mix up.

How up to date is this code?

The details on this page are taken from publicly available data which we refresh regularly. It can happen that information here is out of date, for example after a merger. The figures on this page reflect what is in our directory.

Use this page as a reference, not as the last word – the bank details from the recipient are leading. We are an independent comparison service for money transfers and not affiliated with Matrix Money Management Limited. If you notice something that is out of date, we appreciate a short note.

Changed bank details? Be careful

A common scam works like this: an email arrives with a message claiming that a company has a new bank account and asking you to pay there from now on. That MMOMGB21 is a real code does not mean that the account is genuine – fraudsters use real bank codes as well.

Verify changed payment details through a separate channel, not by replying to the message. Urgency and requests to keep it quiet tend to be red flags. When a payment has already gone to the wrong account, contact your bank immediately: the sooner they act, the better the chance of a recall.

People receiving money are targeted too: one known trick is an overpayment followed by a request to send back the difference to another account. A screenshot of a transfer proves nothing – check your own account.

Receiving money from abroad at Matrix Money Management Limited

When you are waiting for money from abroad, send the payer a complete set of details. In practice that means: your full name exactly as it appears on the account, your account number or IBAN, the BIC MMOMGB21XXX and usually your address.

You can include the bank name and its city as well, since some forms ask for it. Double-check each detail before you share them, because the sender’s bank usually copies them as is.

Expect that the incoming amount is smaller than the amount on the sender’s receipt. Intermediary banks may deduct a fee, Matrix Money Management Limited may charge for incoming payments, and when currencies differ, a markup on the rate applies. On invoices, it is common to agree how the fees are split to avoid a shortfall.

Do you need MMOMGB21 for a SEPA transfer?

Within the SEPA zone, euro transfers to Matrix Money Management Limited follow common rules and in most cases need only the IBAN. A field for the BIC is usually optional or missing for those payments.

You will still need MMOMGB21XXX when sending non-euro payments or transfers from countries outside SEPA. If your banking app has a field for the BIC regardless, entering MMOMGB21 is fine.

Instant euro transfers are increasingly available across SEPA; check with Matrix Money Management Limited whether it applies to your account. As long as the payment stays in euros, the transfer tends to be inexpensive; costs rise once a conversion is involved.

How to check MMOMGB21 before you pay

The most reliable source for a SWIFT code is the bank details provided by the recipient: an invoice, a bank statement or their online banking. When the code you were given does not match MMOMGB21 or MMOMGB21XXX, stop and ask.

Mistakes in the SWIFT code tend to be annoying rather than disastrous. An error in the IBAN or account number is a bigger problem, so check that just as carefully.

An automatic check in your banking app merely tells you that the IBAN is valid, not that it is the right account. Some banks now check the name against the account. When you pay someone new, some people start with a small test amount.

The British Pound and what conversion costs you

The currency of United Kingdom is the British Pound (GBP). Money sent in a different currency will be exchanged into GBP on its way to Matrix Money Management Limited – and the bank that does it picks the rate. Every conversion costs the amount – usually through the rate rather than a fee.

Where the conversion happens affects how much arrives, as rates and margins differ per bank. In many cases it is cheaper to send GBP directly via a provider that converts near the mid-market rate, so that the receiving bank does not need to convert again.

The rate for GBP fluctuates constantly, so the amount you see is usually only valid for a short time. For regular payments, a slightly better rate add up over a year.

How long does an international transfer to Matrix Money Management Limited take?

There is no fixed answer for every transfer: many arrive the same day or the next. Payments made after the cut-off time or just before weekends and holidays often go out a business day later. Occasionally a bank wants to know about the purpose of a payment, which can hold things up.

When a payment takes longer than expected, contact the sending bank about the tracking status and the transaction reference; with that reference banks can see where the payment is. Money transfer services usually provide tracking online showing where the payment has got.

If a payment has not arrived after a few business days, the sender should start with their own bank, not the receiving bank. As a recipient, you can look at your statements to see a slightly lower amount.

Which of the 2 codes of Matrix Money Management Limited do you need?

We have 2 SWIFT/BIC codes for Matrix Money Management Limited in 1 cities. Next to the head office code MMOMGB21XXX, you will find codes for regional offices and specialised units.

For the vast majority of payments to a private or business account, the head office code MMOMGB21XXX is the right choice. Branch codes are only needed if the account holder specifically mentions it.

Not sure which code to use? Check with the recipient or the bank itself. Codes for branches are more likely to change than the head office code.

Paying someone abroad from your Matrix Money Management Limited account

When you send money to another country via Matrix Money Management Limited, the fee you see is rarely all of what you pay. There is the transfer fee, sometimes charges from correspondent banks in between and, above all, the margin on the exchange rate if the currency changes.

That exchange rate margin is often the biggest cost. Check the rate you are offered with the mid-market rate – the rate you find on financial news sites.

For a lot of currency pairs, a specialist provider turns out to be less expensive than a traditional bank transfer, mainly because of the exchange rate. Before your next transfer, it is worth to compare what arrives on GoldexPay rather than accepting the bank’s rate by default. Choosing a specialist does not mean closing your account at Matrix Money Management Limited.